Statistics from the National Bureau of Statistics show that from January to May, the ex-factory price (PPI) of industrial products decreased by 5.5% year-on-year, and the purchase price of raw materials, fuel, and power dropped by 8.2%. Among them, the national factory price of manufactured goods fell by 7.2% year-on-year in May, and the purchase prices of raw materials, fuel, and power dropped by 10.4%.
In May, the prices of major petrochemical products continued to increase month-on-month, but product prices continued to decline year-on-year. This shows that the negative impact of the financial crisis on China's petrochemical industry is still increasing. In May, the prices of major petrochemical products were: crude oil ex-factory prices fell by 50.6% year-on-year, gasoline prices rose by 4.7%, kerosene and diesel prices fell by 32.0% and 11.2% respectively, butadiene rubber fell by 37.9%, and polystyrene prices decreased by 18.8. %, polyester filaments decreased by 14.4%. The purchasing prices of non-ferrous materials, fuels, ferrous metals and chemical raw materials fell by 28.7%, 14.5%, 17.6% and 9.8% respectively year-on-year.
Industry analysts believe that although various governments have taken various policy measures to cope with the financial crisis since the beginning of this year, some economic indicators have also shown signs of falling, but overall the economic recession of major economies is still continuing. Global demand Still in the doldrums. From the perspective of China’s economic development, the situation of oversupply of industrial products as a whole is difficult to change in the short term, which in turn inhibits the rapid recovery of China’s PPI. However, the good news is that the monthly price of petrochemicals is rising. Among them, the prices of major products in the oil and natural gas extraction, petroleum processing and coking, and chemical fiber sub-sectors have risen month-on-month for three consecutive months since their price rises in March.
At present, it is particularly worthy of the industry's attention that, as the ex-factory price of most industrial products fell year-on-year, the ex-factory price of coal, which is one of the key raw materials in the petrochemical industry, is still rising against the market. The data shows that the ex-factory price of coal mining and washing industry rose by 5.5% year-on-year in May. Among them, the original coal factory price rose 5.9%. This means that the petrochemical industry's economy has broken the haze and is still facing tremendous pressure on raw material costs.
According to the statistics released by the National Bureau of Statistics on June 10, although the prices of major products in the petrochemical sub-sectors such as oil and natural gas extraction, petroleum processing, coking, and chemical fiber have increased sequentially for three consecutive months, the price of products in May continued to increase year-on-year. The decline shows that the negative impact of the financial crisis on the petrochemical industry still affects the economic operation of the industry.